02:05 PM EDT, 06/12/2024 (MT Newswires) -- Health care stocks were softer Wednesday afternoon, with the NYSE Health Care Index 0.1% lower and the Health Care Select Sector SPDR Fund (XLV) easing 0.2%.

The iShares Biotechnology ETF (IBB) rose 0.9%.

In corporate news, Avidity Biosciences ( RNA ) shares soared almost 30% after the firm said that initial results from its phase 1/2 study of its experimental drug AOC 1020 to treat rare muscle disease facioscapulohumeral muscular dystrophy showed a greater than 50% reduction in DUX4-regulated genes.

Perspective Therapeutics ( CATX ) shares rose over 4%. The firm expects to join the Russell 3000 Index July 1.

Accuray ( ARAY ) spiked 4% after the firm said that China's National Medical Products Administration has approved the registration dossier for the company's Precision Treatment Planning System.